Recently, the global financial markets have been affected by multiple factors, leading to increased volatility. New obstacles have emerged in the negotiations over the Iran nuclear deal, while tanker attacks have occurred in the Strait of Hormuz region, raising concerns among investors due to these geopolitical risks.

Against this backdrop, the Ethereum (ETH) market has also been affected. The current ETH price is in a critical trading range, with support around $2,220 and resistance around $2,300. Despite a certain degree of liquidity contraction in the short term, on-chain data shows that some large holding addresses are accumulating on dips, which may suggest that institutional investors have an optimistic outlook on the mid-term trend of ETH.

From a technical perspective, ETH is currently showing a narrow range of fluctuations. If investors are considering entering the market, they can focus on the range of $2,225 to $2,235, especially when the Relative Strength Index (RSI) is below 40, which may indicate an oversold signal. More aggressive traders may wait for a sudden negative news event that leads to a short-term flash crash, focusing on the range of $2,180 to $2,200, but it is necessary to verify the buying behavior of large holders through on-chain data.

For investors who have already built positions, a short-term profit target can be set at $2,300, and if this level is broken, the next target could be $2,360. However, investors should also closely monitor changes in U.S. Treasury yields, as this may affect the overall trend of the cryptocurrency market.

In terms of risk management, it is recommended to set the stop-loss level at $2,195. If the price falls below this level and rebounds weakly, it may indicate a shift in the short-term trend. Additionally, investors should closely monitor the developments in the Strait of Hormuz. If there is a significant deterioration, it may be necessary to quickly close positions and observe.

Considering the current market uncertainty, it is advisable for investors to remain cautious and only use 5% to 8% of their position for exploratory building. If the ETH price can break through $2,300 and the trading volume significantly increases (over 20%), then it may be considered to raise the position to around 10%.

Overall, the current cryptocurrency market is under the intertwined influence of geopolitical risks and macroeconomic factors. Investors need to remain vigilant, closely monitor market changes, and flexibly adjust their investment strategies.